Chief Actuary (m/f/d)
London , United Kingdom
Are you a qualified Actuary in non life primary insurance or reinsurance looking for an opportunity to make a real impact?
Great Lakes have an exciting opportunity in a new created role of Chief Actuary for the Great Lakes Insurance SE UK subsidiary!
We are looking for somebody with the skills and experience to use quantitative and qualitative methods to perform and lead all aspects of the loss reserve analyses in consultation with the internal Central Reserving function in Munich. You will provide opinions on underwriting policies and adequacy of reinsurance protection. You will be the key resource of expertise to provide actuarial assessments for the Board, and contribute to the Risk Management systems in respect of risk modelling, the underlying Solvency Capital Requirement (SCR) and Minimum Capital Requirement (MCR), as well as the Own Risk and Solvency Assessment (ORSA) process.
This function must be held by an individual who will have to be pre-approved by the PRA through its Fitness and Probity (F&P) regime.
Your jobYour job
- Coordinating and leading the calculation and the monitoring of the technical provisions for the annual and quarterly closings as well as quality assurance and sign-offs, thereby ensuring an adequate gross and net reserve level in accordance with actuarial standards, regulatory requirements and GLISE & Munich Re Group guidelines
- Providing appropriate reserve figures and related information for external reporting
- Guiding, motivating and developing the skills of a team and ensuring an appropriate and effective organisational structure for the future subsidiary
- Managing the relationship with Central Reserving (CR) in Munich in terms of outsourcing oversight with a functional reporting line into the Head of CR on principal reserving matters.
- Implement and develop an efficient, embedded and SII compliant Actuarial Function
- Validation of SII Technical Provisions
- Provision and documentation of all relevant actuarial opinions within the annual SII Actuarial Function Report and collaboration with other SII Key functions
- Member or guest of various GLISE Committees where appropriate
- Preparing annual Actuarial Report on Technical Provisions (ARTPs) and providing actuarial assessments of technical provisions and reinsurance to the Board
- Contributing to Risk modelling underlying the Solvency Capital Requirement (SCR) and Minimum Capital Requirement (MCR) led by Risk Management (RM) function
- Contribution to the Own Risk and Solvency Assessment (ORSA) process led by RM function
- Representing the interests of GLISE UK subsidiary towards internal and external parties
Your profileYour profile
- Qualified Actuary (DAV, FIA, FCAS or equivalent); have a Practising Certificate or equivalent from the Faculty and Institute of Actuaries or other actuarial bodies, or having an existing role as a Chief Actuary (with similar Solvency II experience) for an P&C (re)insurer.
- Professional experience in actuarial matters in non-life primary insurance or reinsurance
- Practical long standing experience in an actuarial role within the insurance industry in areas, such as Reserving, Pricing & Structuring, Risk Capital Modelling, Accounting, Controlling
- In-depth understanding of quantitative and qualitative SII requirements
- Experience in dealing with supervisory authorities in the financial industry
- Experience with multidisciplinary projects
- Highly motivated, open minded and forward-thinking with proven leadership and management proficiencies
- Proficient in communicating sophisticated matters in a transparent and clear way
- Strong analytical and conceptual skills as well as a confident and committed manner coupled with negotiation skills
This opportunity comes along with a competitive salary, 25 days annual leave along with private medical insurance, on target bonus and employers contributory pension of 10%. We also operate in a hybrid working capacity meaning you have the opportunity to collaborate in the office and work from home when needed.About Us
Here at Great Lakes (a Munich Re company) we seek to offer our staff the opportunity to grow in an exciting, results-oriented and diverse working environment. We believe that your dedication to apply your outstanding knowledge crafts the future; the future of our clients, of Munich Re and of course your own.
Munich Re is an equal opportunity employer. We celebrate diversity and are committed to crafting an inclusive environment for all our employees.